Fitch lowers GMR Hyderabad view to negative

Fitch Ratings said it revised the outlooks on GMR Hyderabad International Airport Ltd.'s issuer default rating and $350 million bond issue rating to negative from stable.

The agency also said it affirmed the ratings at BB+.

The company is a growing mid-sized regional origin and destination airport with a relatively short track record, Fitch said.

Volumes recovered rapidly from the collapse in 2013 of its main airline, demonstrating the airport's strong traffic resilience, the agency said.

But the airport lacks a track record in terms of consistent and transparent price regulation, Fitch said.

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